Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Markets will remain closed on May 13, 2021 on account of Id-Ul-Fitr (Ramzan Id).

Sensex Slips Over 300 Points; Axis Bank & Tech Mahindra Top Losers
Tue, 17 Sep 12:30 pm | Monish Vora, TM Team

Share markets in India have extended early losses and are presently trading deep in the red. Barring consumer durables sector, all sectoral indices are trading in red with stocks in the telecom sector, automobile sector, and IT sector witnessing maximum selling pressure.

The BSE Sensex is trading down by 304 points (down 0.8%), while the NSE Nifty is trading down by 86 points (down 0.8%). The BSE Mid Cap index is trading down by 0.4%, while the BSE Small Cap index is trading down by 0.3%.

The rupee is trading at Rs 71.80 against the US$.

--- Advertisement ---
FREE Event on Equitymaster's New Project

On May 17, we are holding a FREE event to reveal Equitymaster's Great Indian Wealth Project.

At this event, we'll reveal the details of your first stock for a potential Rs 7 crore in long-term wealth.

Seats for this event are filling up fast.

Since there are limited seats, we urge you to register at the earliest.

Click here for free sign-up
------------------------------

The domestic currency extended its fall against the US dollar as higher oil prices stoked concerns about inflation, economic growth and deficits.

On Monday, the Indian rupee had plunged by 68 paise to 71.60 against the US dollar amid concerns over soaring crude prices following drone attacks on Saudi Arabia's oil facilities.

In news from the retail sector, Titan share price is in focus today. Shares of the company rose as much as 1.5% in early trade today after reports stated that the firm is planning to raise Rs 9 billion through commercial paper.

Earlier this month, credit rating agency ICRA had assigned positive ratings to Titan's commercial paper (CP) programme. ICRA gave A1+ ratings to the company's Rs 9-billion commercial paper.

Fund-based and non-fund based limits of Rs 17 billion under the CP programme were assigned AA+ (positive) and A1+ (outstanding) ratings by the credit ratings agency.

Learn: How to Potentially Accumulate Rs 7 Crore in Wealth Over the Long-term

The firm's fixed deposit programme worth Rs 15 billion also received outstanding ratings from ICRA. ICRA cited strong liquidity position and cash flows of the firm behind the positive ratings.

Buying interest is also seen as global research firm Morgan Stanley upgraded the stock to overweight from equal weight. The research firm has raised FY20, FY21 and FY22 EPS estimates by 3%, 2% and 1% respectively.

To know more about the company, you can read Titan's latest result analysis on our website.

Here's an interesting data on Titan, every Rs 100 invested in the company in 2002 would have multiplied 330 times by 2019!

Every Rs 100 Invested in Titan in 2002 Multiplied 330 Times by 2019

Co-head of Research, Tanushree Banerjee believes the opportunities in the Rebirth of India are not only more profitable than the ones in 2002 but the gains could come faster too.

--- Advertisement ---
How to Earn a Fortune in Gold, the Smart Way

Gold is on 'the verge of a decadal run' says Vijay Bhambwani, India's #1 Trader and Editor of Fast Profits Daily at Equitymaster.

He says gold has the potential to generate staggering gains in the coming years...And those who are betting on gold right now will hit the jackpot.

But wait.

While gold is an attractive investment destination, there's a very specific way to play this opportunity...

A way that ensures you rake in maximum profit and perhaps hit the jackpot...while minimizing potential pitfalls. Thankfully, Vijay - India's #1 Trader - can guide you step-by-step in the upcoming gold rush and help hit the jackpot just at the right time.

Sure, you don't want to be an average trader. That's not how you make a fortune.

Here's how you can get Vijay's guidance...
------------------------------

Here's what she wrote in a recent edition of The 5 Minute WrapUp...

  • Titan entered the branded jewellery market in 1996.

    The retailer faced the challenge of breaching a well-entrenched network of family jewellers. The relationship between customer and family jewellers went back to a couple of generations.

    The habit of buying from the family jeweller was strong and the trust was intrinsic. One also had the option of returning old jewellery to the family jeweler.

    Through its jewellery brand, Tanishq, Titan broke down the early entry barriers in unorganized jewellery retailing. It consolidated its lead as very few national or branded players threw their hats in the ring.

She is on the hunt for the next set of Titan, HDFC Bank, Bajaj Finance, Asian Paints-like companies. These will be the companies that would catalyze the transformation she calls the Rebirth of India.

Moving on to news from the aviation space, market participants are tracking InterGlobe Aviation (Indigo) share price and SpiceJet share price.

Shares of the companies fell up to 5% yesterday following a spike in crude oil prices overseas. Reports state that a rally in crude oil prices may increase air turbine fuel (ATF) cost for domestic airlines.

Learn: How to Potentially Accumulate Rs 7 Crore in Wealth Over the Long-term

In other news, lenders to the debt-laden Jet Airways on Monday, made a presentation to the South American conglomerate Synergy Group, which has reportedly emerged as sole potential buyer of the airline.

Jet Airways had earlier received expressions of interest (EoIs) from energy baron Anil Agarwal's family trust-backed Volcan Investments, Russian Fund Treasury RA Partners and the Panama-based Avantulo Group.

However, Volcan opted out of the race a day after publicly announcing its interest in the carrier.

Reports state that Jet owes over Rs 85 billion, excluding interest and other penal charges to lenders led by State Bank of India (SBI).

The lenders consortium had sent the airline to the NCLT in the month of June as they could not find a buyer. Following this, the bankruptcy tribunal appointed Ashish Chhawchharia of Grant Thornton as the resolution professional to manage the affairs of the crippled airline.

Jet Airways has liabilities over Rs 360 billion, including over Rs 100 billion in vendor dues, Rs 85 billion along with interest owed to lenders, over Rs 30 billion in salary dues, and more than Rs 135 billion in accumulated losses over the past three years.

Jet Airways share price is presently trading down by 0.8%.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Sensex Slips Over 300 Points; Axis Bank & Tech Mahindra Top Losers". Click here!

  

Stock Market Updates

Sensex Trades Over 300 Points Lower, Dow Futures Down by 128 Points (Today's Market)

May 12, 2021 12:30 pm

BSE Sensex is trading down by 328 points, while the NSE Nifty is trading down by 89 points.

Sensex Dips 300 Points, Nifty Falls Below 14,800; Godrej Consumer Zooms 10% (Today's Market)

May 12, 2021 09:30 am

Indian share markets open lower. The BSE Sensex opened down by 325 points, while the Nifty is trading lower by 84 points.

SGX Nifty Trades Flat, Interglobe Aviation QIP, Rising Premium for Non-Life Insurers, and Buzzing Stocks Today (Today's Market)

May 12, 2021 Pre-Open

Top cues to track in today's stock market session.

View More Indian Share Market News

Most Popular

The Next Smallcap Winners(Profit Hunter)

Apr 30, 2021

Price is the only due diligence one might require to buy this business.

Time to Buy Smallcaps?(Fast Profits Daily)

Apr 30, 2021

In this video, I'll show you why I favour smallcaps over the Nifty.

Are the Stock Markets Deaf to Covid Agony?(Profit Hunter)

May 6, 2021

Why are markets discounting the economic impact of Covid?

My Secret to Find Breakthrough Stocks(Fast Profits Daily)

May 7, 2021

I've used this trading technique for many years with great success. I'm sharing it with you today.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


May 12, 2021 (Close)

MARKET STATS